HDFC Bank Q4 net up 30%

HDFC Bank said its net profit rose to Rs.1,890 cr in the quarter ended March from about Rs.1,453 cr a year earlier

First Published: Tue, Apr 23 2013. 02 58 PM IST

For the full year to 31 March, profit rose 30% to Rs6,726 crore from Rs5,167 crore in the previous fiscal year.Photo: Abhijit Bhatlekar/Mint

Updated: Tue, Apr 23 2013. 03 14 PM IST

Mumbai: HDFC Bank Ltd’s fourth quarter (Q4) profit rose 30% as it earned more interest and non-interest income and its asset quality remained stable.

Net profit in the three months ended 31 March rose to Rs.1,890 crore, or Rs.7.9 per share, from Rs.1,453 crore, or Rs.6.1 per share, the bank said on Tuesday.

A Bloomberg poll of 36 analysts had estimated the lender’s net profit at Rs.1,883 crore.

The bank earned Rs.7,085 crore in interest income up from Rs.5,783 crore a year earlier. Other income rose to Rs.1,804 crore from Rs.1,629 crore.

Net non-performing assets (NPAs) as a percentage of net advances remained stable at 0.2%. Provisions for NPAs fell to Rs.301 crore from Rs.412 crore.

For the full year to 31 March, profit rose 30% to Rs.6,726 crore from Rs.5,167 crore in the previous fiscal year.

At 3.10pm, HDFC Bank shares were down 1.46% at Rs.689.05 on the BSE while the benchmark Sensex was down 0.08% at 19,185.70 points
KAUSHAL SINGH
PGDM 2 SEM